Intellectual property
A) is protected by common law rather than by written laws.
B) is protected by people's sense of decency rather than by written laws.
C) belongs to everyone with the necessary human capital to use it.
D) is often protected by copyrights and patents.
D
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The opportunity cost of an action is:
a. the monetary payment the action required. b. the total time spent by all parties in carrying out the action. c. the value of the best opportunity that must be sacrificed in order to take the action. d. the cost of all alternative actions that could have been taken, added together.
If a box of Swiss chocolate priced at 100 francs can be purchased for $50, the exchange rate is:
a. 0.50 francs per dollar. b. 4.00 francs per dollar. c. 0.50 dollars per franc. d. none of these.
The aggregate supply curve slopes upward when the real wage falls initially as the price level rises
a. True b. False Indicate whether the statement is true or false
What is one way that the trade deficit of the United States is financed?
A. By U.S. buying real assets abroad B. By selling real assets of the U.S. to foreign buyers C. By borrowing from U.S. citizens D. By lending from U.S. banks